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According to a new report published by Allied Market Research, titled, "Shale Gas Processing Equipment Market by Component: Global Opportunity Analysis and Industry Forecast, 2019-2026," The global shale gas processing equipment market was valued at $4.5 billion in 2018, and is projected to reach $13.5 billion by 2026, growing at a CAGR of 14.8% from 2019 to 2026.Shale gas equipment are used to eliminate components such as N2, H2S, heavy hydrocarbons, CO2, and water from the raw shale gas and oil before it is sent for transportation. This method includes various processes such as distillation, filtration, cracking, reheating, pyrolysis, and chemical treatment. Heat exchangers, separation, and filtration equipment play an important role as raw shale gas is drilled from shale formation, which needs to be heated and cooled at several temperature ranges followed by separation and filtration process.
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As per the U.S. energy information administration, the global shale gas industry surpassed more than $200 billion revenue in 2018 and as per their estimates it is anticipated to generate more than $390 billion revenue by 2025. Shale gas and oil infrastructure and markets for their related products, more specifically, processing equipment, altogether are heading toward their growth expansion phase as whole. The U.S. is the largest shale gas market, and out of overall natural gas produced in the country, shale gas accounted for more than half of the market share. Hence, trade for gas processing equipment increased in response to the recovering oil & gas prices. In the above scenario, major demand is observed for heat exchangers, separators, compressors, and combustion engines. Furthermore, there is a rise in the investment in the midstream oil & gas equipment due to increase in trade and oil prices.
Due to abundant shale gas reserves, its infrastructure expected to grow significantly over the next decade. Hence, processing equipment is expected to have a promising future over the years to come.
The U.S. reported shale gas production of over 37 billion cubic feet following Mexico and China at over 5 and 2.1 billion cubic feet respectively in 2015. As per the estimates of U.S. Energy Information Administration, the U.S. anticipated to produce over 80 billion cubic feet of shale gas by offering a scope to huge technological investment along with processing equipment manufacturing.
The global shale gas processing equipment market is bifurcated into component and region. On the basis of component, the global market is segmented into compressors & pumps, electrical machinery, heat exchangers, internal combustion engines, measuring & controlling devices, and others. Others segment includes separators & filters, hydrator/glycol dehydrator, injection systems, and storage tanks. Compressor and pumps is the largest segment among all and its growing demand is significantly expanding the global shale gas processing equipment market size.
Based on country, the shale gas processing equipment market is bifurcated across the U.S., Canada, China, Mexico, Algeria, Argentina, an Others. The U.S. accounted for largest shale gas processing equipment market share over other countries. However, China is expected to exhibit highest CAGR during the forecast period.
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Key Findings of the Shale Gas Processing Equipment Market:
The U.S. market for shale gas processing equipment is predicted to account for a share of over 70% market share by 2026
Based on Component, compressors and pumps market segment is emerged as the global leader by acquiring 31% market share in 2018, and it is anticipated to be the largest market during the forecast period
As of 2018, shale gas accounted for more than 50% share in overall natural gas production in the U.S.
After $5.5 billion investment in shale gas exploration, China is anticipated to further invest in 2020 to develop hydraulic fracturing technology by aiming commercial production of shale reserves
The major key players operating in the global shale gas processing equipment industry include Schlumberger Ltd, Sivalls, Inc, Van Air Systems, Croft Production Systems, Inc., Koch Industries, Inc., Pall Corporation, PEMCO, Burckhardt Compression AG, Gas Processing Equipment, and ATB Riva Calzoni S.p.A.
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